Agency: US employment data reinforces Federal Reserve's cautious interest rate cut stance this year
2025-01-13 09:52:35
US jobs data strengthening Federal Reserve this year rate cuts cautiondesk3cryptocurrencydesktopCrypto News
The latest US jobs data reinforced the Federal Reserve's cautious stance on interest rate cuts this year, with gold prices edging lower in early trading and gold futures down about 0.2 per cent after the scenario boosted the dollar. "Following the data, the probability that the Fed will not cut rates in May surged to 67 per cent, while the probability of a rate cut in June was close to a 50/50 probability," Ipek Ozkardeskaya, senior analyst at Swissquote, said in a note to clients. However, strong central bank buying and safe-haven demand continued to support gold prices amid broader uncertainty over the future of US policy under President-elect Trump. Traders are awaiting key US inflation data later this week for more clues on the path of monetary policy.
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